Kenya's largest mobile network records a whooping Sh45.1 billion profit

This was an 18.3 per cent increase compared to last year.

___6653077___https:______static.pulse.com.gh___webservice___escenic___binary___6653077___2017___5___10___9___Safaricom-numbers-2016

Safaricom has announced a massive full year net profit of Sh45.1 billion for the year ending March 2017.

This is an 18.3 per cent increase compared to Sh38.10 billion in 2016.

Total revenues for the year ended March 2017 have gone up by 8.8 per cent to Sh. 212.89 billion; compared to 195 billion last financial year.

The company attributed the increase in revenue as a result of a strong performance in non-services namely, M-Pesa and data.

“Voice, M-PESA and Data continue to show growth although we have seen slight decline in SMS revenue,” said CEO Bob Collymore.

M-Pesa revenue grew by 32.7per cent from 41.50 billion to Sh55.08 billion for the period ended march 2017 while data revenues grew by 38.6 per cent to Sh29.29 billion.

Likewise, M-PESA customers who were active in the last 30 days grew by 14.6% from 16.60 to 19.02 million.

Messaging (SMS) revenue on the other hand declined by 3.7 per cent to Sh16.7 billion.

Customer numbers have also increased by 11.8per cent to 28.13m as at 31 March 2017 from 25.16m as at 31 March 2016.

Safaricom board further proposed a dividend payout of Sh0.97 a share from Sh0.76 last year; an increase of 27.5 per cent from 2016.

The dividend payout totals to Sh38.86 billion, which denotes 80 per cent of Safaricom's net profit.

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